Wegagen Bank S.C was established on June 11, 1997.
Wegagen Bank SC was established on the 11th of June 1997 It came to life as a result of the entrepreneurial wit of sixteen 16 founding members who recognized the critical role that financial institutions would play towards creating a sustained economic development and were able to put in an initial paid-in capital of Birr thirty million (Birr 30 Million).
Established under the banking proclamation of Licensing and Supervision, Proclamation No. 84/1994, the Bank was registered with the National Bank of Ethiopia on April 30, 1997. The Memorandum and Articles of Association of the Bank were signed on April 15th, 1997 and registered with the Addis Ababa Bureau of Trade, Industry and Tourism on April 15, 1997, Registration Number 1/34/4/89.
The Bank, as it started back then, operated through its Head Office located in Gofa Sefer, Addis Ababa. In October 2017, Wegagen moved to its 23 Storey Headquarters Building in front of Addis Ababa Stadium, Ras Mekonnen Street.
“Aspiring to be a champion of excellence in banking
business in Ethiopia”
“Maximize stakeholders’ value by providing diversified banking services through competent and motivated employees, and up-to-date technology”
We do the right thing, even when no one is watching, We keep our word and honor our commitments, We maintain confidentiality and privacy of all customers
We provide prompt and convenient customer service
We collaborate and work collectively to meet our common goals, We promote and support a diverse, yet unified team
We adapt and respond rapidly to changes, We encourage creativity and new ideas
Wegagen Bank has a network of 397 branches Of which 144 are in Addis Ababa and the remaining 253 are located in other cities and towns of the country. To expand its service coverage, the Bank keeps on opening additional branches both in Addis Ababa and regional towns.
ICT Information & Communication Technology
Wegagen Bank is a pioneer to introduce a Core Banking System as of July 2000, thereby managing to network the Head Office & all branches. Through its versatile ISO Standard Core Banking System, the Bank is now delivering more efficient services to its customers. The system has also enabled the Bank to provide technology-based banking services such as Card payment services (through ATM & POS), internet banking as well as mobile banking services.
Wegagen Bank is governed by the Board of Directors consisting of a Chairperson, a Vice Chairperson and eight Directors. The overall management is entrusted to the management team which comprises the President/Chief Executive Officer, who is appointed by the Board of Directors, four Vice-Presidents and sixteen Directors as well as Manager of Engineering Service.
As at January 31, 2021, the number of employees of the Bank stood at 4990.
profitability through increased efficiency
Differentiated, varied and value added banking services
excellence in customer services
growing market share